In a Competitive Market, No Single Producer Can Influence the Market

question 26

Multiple Choice

In a competitive market, no single producer can influence the market price because:

• A)many other sellers are offering a product that is essentially identical
• B)consumers have more influence over the market price than producers do
• C)producers agree not to change the price
• D)government intervention prevents firms from influencing price

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Ultimate Causes

Fundamental reasons behind biological or behavioral phenomena, often involving evolutionary explanations.

Natural Selection

The evolutionary process where organisms better adapted to their environment tend to survive and produce more offspring.

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